Contract farming programme

Depending on your abilities and needs

The credit limit depends on:

• Your credit rating.
• Your production capacity.
• The value of the products you’ll be delivering to the business that has referred you, based on the private agreement.
• The average production cost (e.g. euro/1000 sq.m.)

With collateral

Offer as collateral the:

• Private agreement you’ve signed with the business that will buy your products.
• Deposit account where you receive any OPEKEPE and ELGA subsidies.

It is possible that we may request personal guarantees and/or collateral for the entire loan amount, according to our lending policy.

Linked to a card and an account

The amount is credited in the dedicated Contract Entrepreneurship account, which can be used for overdraft. The account is then linked to the dedicated Contract Entrepreneurship card. 

This way, you can secure the liquidity you need just when you need it, by directly withdrawing from your approved overdraft.

2 ways to use your credit facility

Use your credit facility on eligible expenditures to:

• Buy supplies from specific businesses with the dedicated card of the programme. 
• Withdraw up to 20% of the credit facility to pay for farming expenses in cash, after bringing the invoices to a branch.

The split between the 2 ways to use the credit facility depends on your activity.

Only during the growing season

You can use the credit limit only during the growing season for any produce. Every:

• 6 months
• 9 months
• 1 year

Floating rate with 5%+ spread

The interest rate is floating based on the 3m Euribor + 5% to 6.5% spread. 

Law 128/1975 levy

According to Law 128/1975, all financing for the primary sector is subject to a levy that is paid to the Greek State.

For the contract entrepreneurship credit facility the levy currently stands at 0.12%.

Have a look at the deposit and loan interest rates.

Up to 1-year term

The term of the credit facility depends on the product. The maximum term is 1 year.

Following a reassessment, you can renew the capital for the next farming cycle.

Based on the private agreement

Your credit limit is repaid with:

• Lump-sum or partial payments from the buyer against the value of the farming products you will deliver on the agreed upon dates, based on the agreement you signed with them.
• One-off payments from you.

Interest is calculated every 6 months.

Up to €50

You pay €50 for us to review your eligibility for the programme.

There is no management fee and the card is issued at no cost.

Optional borrower insurance

You may also get the Business owner loan protection insurance plan we offer in cooperation with Generali, as an insurance intermediary (only in Greek). This way, if something unexpected comes up, your outstanding balance and accrued interest will be paid on time.